Namda said it is the arm of the Switzerland-based non-profit, the Namda Foundation that will be in charge of issuing the NAM tokens that will be broadcast to OSMO holders.
Built on the Namda blockchain, a privacy-focused protocol universe network, is looking to strengthen its presence in the industry with a partnership pitch for Osmosis (OSMO). As informed of Namda co-founder Christopher Goes is exploring a jointly funded grant program for bankroll software “public goods,” per CoinDesk.
The proposal will also include the airdropping of NAM tokens to current Osmosis holders, a move that will create a nearly unbreakable bond between the two protocols. Namada is looking to build on these partnerships ahead of its official launch on the mainnet.
The proposal is best tagged as mutually beneficial for both Namda and Osmosis, and while it will help give Namda a ready-made community, OSMO holders will get more financial returns in the long term once the airdrop is completed. would benefit.
As Go described, the proposed grant program would fund a range of research initiatives, with a special focus on privacy-focused solutions and development projects. These potential projects will be beneficial for both Namda and Osmosis Protocol respectively. As its first show of legitimacy, the grant program will, according to Goz, be funded by Namada, though the expectation is that Osmosis will also support it in its best ways.
The collaboration between the two will also see the use of Namda’s Shielded Action technology to protect tokens on Namda when they are not in active use on Osmosis.
“It would be very boring if you only had assets and you couldn’t do anything with them,” Goes explained. “So we expect people to want to go to osmosis and to decentralized exchanges on other chains to trade their assets,” he said.
As part of the idea of the proposed partnership, Namada said it is the arm of the Switzerland-based non-profit, Namada Foundation that will be in charge of issuing NAM tokens that will be broadcast to OSMO holders.
Namda and Osmosis Linkup: Possible Timeline
Namada’s push to partner with Osmosis isn’t one that will come without significant hiccups. One of these hurdles is pre-approval from the Osmosis community as the request for partnership will still be put under a strong governance vote.
The fact that Osmosis Labs controls the affairs of the blockchain does not mean that the leaders make all the important decisions. Community input is very important, and there is no guarantee what the outcome of the vote will be, despite the fact that the community will greatly benefit.
There is no idea what the timeline for the collaboration would be, based on the apparent complications. However, given its history, the potential for success with the osmosis community is high, given that Namda has a similar partnership with the privacy layer-1 protocol zcash Back in April this year.
Benjamin Godfrey is a blockchain enthusiast and journalist who loves to write about real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies drives his contributions to well-known blockchain-based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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